CATL's acquisition of Geely's Chongqing power battery project approved.

September 14 news: Recently, the State Administration for Market Regulation released the list of concentrations of undertakings unconditionally approved from August 31 to September 6, 2026, including the case of Contemporary Amperex Technology Co., Limited's acquisition of equity in Chongqing Yaoning New Energy Technology Co., Ltd., among others. In 2011, the People's Government of Fuling District, Chongqing, signed a cooperation agreement with Geely Technology Group, and Geely Technology's new energy power battery project settled in Fuling. The project established a joint venture entity, Chihang New Energy Co., Ltd., jointly formed by Geely Technology Group and Farasis Energy (Gan Zhou) Co., Ltd. The project had a total investment of approximately 8.5 billion yuan and was mainly engaged in the research and development, production, and sales of power battery cells, modules, and PACKs. Later, Farasis Energy withdrew, and the company was renamed Chongqing Yaoning New Energy.